New York-based trading platform Dunn &Bass says it has closed a deal to acquire international options trading firm Algorithmic Trading Pants.
The deal is subject to closing and no closing price was announced, Dunn &ammt;Bars spokesman Josh Geddes said in an email.
The company has $20 million in cash and an option to raise another $2 million.
Dunn &s;Bins plans to continue its expansion in the United States.
The move is expected to close in the first quarter of 2020.
Algorithmic offers “a variety of strategic trading tools that are available to small and mid-cap funds and ETFs,” Gedds wrote in an e-mail.
The firm “has a global presence,” Dunn &ing;Bats shares rose 1.5% in premarket trading to $30.93.
The stock is up 8.4% so far this year.
Gedds did not say when the deal will close.
The Dunn &anglbs shares were down 3% in after-hours trading.